Stage Stores has announced they have filed for Chapter 11 and will begin running a sale process to wind down their operations.
Michael Glazer, President/CEO of the company that owns Gordmans, says their stores have been temporarily closed due to the COVID-19 pandemic. He adds despite all efforts they have been unable to obtain the necessary financing to continue operating as an independent business.
Glazer hopes actions over the last several months to reposition the business will attract the right partner who is interested in their off-price concept. He says if they receive a viable bid for the business, they will terminate their closure at certain locations.
Gordmans plans to start reopening stores across the country beginning Friday, but it remains unclear when the Kentucky locations will open again.
Glazer says customers will find even bigger deals and smaller prices at their store-closing sales. Additionally, Gordmans will honor existing customer programs, including gift cards and returns, for the first 30 days after a store reopens.
It was announced in August 2019 that Gordmans was taking over all area Peebles and Goody’s locations, which also operate under the Stage Stores umbrella. Gordmans locations in Hopkinsville and Princeton were only open about a month before they were forced to close due to the COVID-19 pandemic.
